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The Federal Government has prevented Chinese company Yuxiao Fund from raising its stake in Northern Minerals on grounds of national interest. Yuxiao Fund wanted to increase its holding from 9.92% to 19.9% but needed approval from the Foreign Investment Review Board. Northern Minerals has been focused on fine-tuning its heavy rare earths processing system through …
What You Missed in the New this Week
Surbiton Associates has announced Australian gold production for the September 22 quarter is down 9% from the June 22 quarter. The September quarter saw 76 tonnes compared to the 83 tonnes from the June quarter. Surbiton Associates director, Dr Sandra Close said gold production for the quarter is somewhat disappointing and stated “some wet weather …
Karora Posts Strong First Quarter
Canadian miner Karora Resources posted a positive start to the first quarter based on their Higginsville Mining Centre and Kambalda Beta Hunt operations. Announced to the market late Friday night Western Australia time, Karora posted gold production of 24,694 ounces and gold sales of 25,547 ounces. While Karora nickel production is currently limited to remnant nickel …
New Nickel Discovery At Kambalda’s Beta Hunt Mine
A new high grade nickel discovery has occurred at Karora Resources Beta Hunt Mine at Kambalda in Western Australia. Named the 50C Nickel Trough, the discovery is the second new nickel discovery at the mine in the last six months and compliments an increasing gold system at the mine. With a key nickel intersection of …
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Savannah Set To Restart – Letters of Intent Placed
Hot on the heels of the Cassini mine opening near Kambalda recently, another Western Australian nickel project is making the move this morning – Panoramic Resources Savannah Nickel Project in the East Kimberley. Panoramic is preparing with the restart of mining from August 2021 and the first shipment of concentrate earmarked for December. A 12-year mine life with an average annual production target of 9,072t nickel, 4,683t copper, and 676t cobalt …
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Top Story – Bill Beament Leaves Northern Star In July.
Northern Star Resources Limited has provided an update. In their efforts to initiate a global search for an Independent NonExecutive Chair, Bill Beament will retire from the Northern Star Board, effective July 1, 2021. Mr Beament has agreed to take up an Executive Director role with Venturex Resources from July 1. Mr Beament said he fully …
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Diggers & Dealers Keynote Speaker Announced for 2021
A former advisor to President Nelson Mandela, a key author of twenty one books and a previous Principal Economist at the EBRD (European Bank for Reconstruction and Development) has been announced as the Diggers and Dealers key note speaker for 2021. Professor Ian Goldin. Professor Goldin specialises in economics and has numerous credentials on …
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BREAKING: KCGM Owners Make Joint Announcement
KCGM Super Pit Owners Northern Star Resources and Saracen Minerals have released information to the market this morning about their respective operations based on the lockdown imposed in Western Australia. Saracen Mineral Holdings Limited and Northern Star Resources advises that it does not expect production and exploration at its West Australian operations to be impacted …
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Morning News Bites – November 6
Gold and the US Election. It would seem the gold market has factored in a win to Biden in the US elections with the price of gold rising by about US$40 in overnight trade (Australian time). The Aussie dollar has risen against the greenback to ~US72.6c, which gives an Aussie gold price of ~$2,680. As …
Morning News Bites – November 5
Wiluna Mining Increase Mineral Resource. Wiluna Mining Corporation (ASX: WMX)has reported an increase to the Mineral Resource for the Wiluna Mining Centre, as part of the Company’s ongoing Sulphide Development plan. Wiluna reported a 4.24Moz @ 4.89 g/t High Grafe Mineral Resource at the Wiluna Mining Centre, which is 11% more than reported in September, …
